Guideline Value for Alagiri Naicker Street

Alagiri Naicker Street guideline value

The current guideline value of Alagiri Naicker Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Parangimalai village and falls under the Chennai South Joint II SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Alagiri Naicker Street has changed

The guideline value for Alagiri Naicker Street has seen significant changes over the years. In 2002, the value was Rs 285 per sq.ft, which increased to Rs 357 per sq.ft in 2003, marking a 25% rise. By 2007, the value had jumped to Rs 750 per sq.ft, reflecting a 110% increase. The 2012 revision saw a decline to Rs 2,500 per sq.ft, a decrease of 33%. In 2017, the value rose again to Rs 1,675 per sq.ft, a 49% increase. The 2023 revision set the value at Rs 2,500 per sq.ft, which then increased by 10% to the current value of Rs 2,750 per sq.ft in 2024.

There are no figures available for revisions in years other than those listed. The overall change from 2002 to 2024 shows an increase of 865% in the guideline value for this street.

Guideline values in Parangimalai

In Parangimalai, there are 233 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 11,000 per sq.ft, with a median value of Rs 3,850 per sq.ft. Alagiri Naicker Street's 2024 guideline value is below this median.

• Ambethkar Street: Rs 2,750 per sq.ft (2024)
• Anna Street: Rs 3,300 per sq.ft (2024)
• Appavu Mudali Street: Rs 3,300 per sq.ft (2024)
• Asarkana Lane: Rs 3,300 per sq.ft (2024)
• Ashokan Street: Rs 2,750 per sq.ft (2024)
• Azarkahana 1st Lane: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Alagiri Naicker Street

For a 1,000 sq.ft plot at the current rate of Rs 2,750 per sq.ft, the guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, totaling Rs 2,47,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Alagiri Naicker Street?

The Sub Registrar Office that covers Alagiri Naicker Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Parangimalai

The guideline value is a crucial factor when buying or selling property in Parangimalai. It serves as a benchmark for determining the minimum value at which properties can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value may influence the sale price. The registration office uses this value to calculate the applicable stamp duty and registration fees, ensuring that both parties are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Alagiri Naicker Street?

The current guideline value of Alagiri Naicker Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 285 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, showing an overall increase of 865% over this period.

What is the land classification for Alagiri Naicker Street?

The land classification for Alagiri Naicker Street is Residential Class III Type - I.

Where can I find the Sub Registrar Office for Alagiri Naicker Street?

The Sub Registrar Office for Alagiri Naicker Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is the stamp duty calculated for properties in Alagiri Naicker Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total stamp duty and registration fees would amount to Rs 2,47,500.